Group says its Q3 fresh sales increased 11.5 per cent year-on-year, supported by “healthy volume growth”

Greenyard has reported on a third-quarter (Q3) year-to-date sales increase of 12.2 per cent versus the same period of 2022/23.

Francis Kint Greenyard 2023

Francis Kint

Sales climbed from €3.335bn to €3.742bn, ”well in line” with its €4.9bn guidance for the full financial year ending March 2024, it said.

Out of the total 12.2 per cent growth, 9.6 per cent was related to price increases in both fresh and long fresh segments, while 2.6 per cent was volume increases.

Fresh sales increased by 11.5 per cent on the previous year, or €310.4m, from €2.707bn to €3.017bn.

Greenyard noted that the increase in the fresh segment was supported by a “healthy volume growth” (3.5 per cent), which was “significant” in Greenyard’s integrated customer relationships.

“After two quarters of strong growth, Greenyard continued with a similar performance in the third quarter,” said Francis Kint, CEO of Greenyard.

”In Fresh, our growth is driven by volume growth in our integrated customer relationships, marking further progress in the evolution from a trading business to an added-value service business,” he explained. “This gives us confidence in our unique approach in the fresh fruit and vegetables category.

”In Long Fresh, our frozen and prepared fruit and vegetables, we have experienced continued inflation of our costs, especially in our fresh raw materials,” Kint continued. ”We have, however, been able to successfully pass these on.

”In difficult climatic and growing conditions, we have been able to maintain good service levels,” he added. ”This ability, together with our broad and diversified offering, allowed us to maintain volumes and achieve solid year-on-year price increases.”